Loan Features

One size doesn’t fit all when it comes to home loans. Make sure you choose a loan with the features and benefits that are right for you.We can recommend a loan for your particular needs — and take care of all the paperwork.

If you want to do some homework first, pop your details into our clever loan options tool or work out monthly or fortnightly repayments with our calculator. When you’re ready, give us a buzz and we’ll start walking you through your options. Here’s a guide to common loan features and benefits.Redraw facility This allows you to access any extra repayments you have made. Knowing you have access to funds can provide peace of mind. Be aware lenders may charge a redraw fee and have a minimum redraw amount. Repayment holiday You can take a complete break from repayments, or make reduced repayments, for an agreed period of time. This can be useful for travel, maternity leave or a career change. Offset account This is a savings account linked to your home loan. Any money paid into the savings account is deducted from the balance of your home loan before interest is calculated. The more money you save, the lower your regular home loan repayments. You can access your savings in the usual way, by EFTPOS and ATMs. This is a great way to reduce your loan interest, as well as eliminate the tax bill on your savings. Lenders provide partial as well as 100% offset accounts. Be aware the account may have higher monthly fees or require a minimum balance.Direct debit Your lender automatically draws repayments from a chosen bank account. Apart from ensuring there is enough cash in the account, you don’t have to worry about making repayments.All in one home loanThis combines a home loan with a cheque, savings and credit card account. You can have your salary paid into it directly. By keeping cash in the account for as long as possible each month you can reduce the principal and interest charges. Used with discipline, the all-in-one feature offers both flexibility and interest savings. Interest rates charged to these loans can be higher.Professional package Home loans over a certain value are offered at a discounted rate, combined with discounted fees on other banking services. These can be attractively priced, but if you don’t use the banking services you may be better off with a basic variable loan.Portable loansIf you sell your current property and buy somewhere else you can take your home loan with you. This can save time and set-up fees, but you may incur other charges.